Archive for the 'Economy' Category
Automakers Feel Worsening Effects of Japan Crisis
March 19th, 2011Just in time… Your what hurts? Via: AP: A week after the disaster in Japan erupted, its impact on automakers around the world is worsening. Most of Japan’s auto industry is shut down. Factories from Louisiana to Thailand are low on Japanese-made parts. Idled plants are costing companies hundreds of millions of dollars. And U.S. […]
Obama Regime Understates Deficits by $2.3 Trillion
March 19th, 2011Maybe they’re anticipating finding the missing $2.3 trillion that Rumsfeld mentioned on September 10, 2001. Via: AP: A new assessment of President Barack Obama’s budget released Friday says the White House underestimates future budget deficits by more than $2 trillion over the upcoming decade. The estimate from the nonpartisan Congressional Budget Office says that if […]
U.S. Cost of Living Hits Record, Passing Pre-Crisis High
March 18th, 2011Via: CNBC: A special index created by the Labor Department to measure the actual cost of living for Americans hit a record high in February, according to data released Thursday, surpassing the old high in July 2008. The Chained Consumer Price Index, released along with the more widely-watched CPI, increased 0.5 percent to 127.4, from […]
G7 Intervention on Yen
March 18th, 2011It had to happen. Anyway, there’s the “free market” for you. There’s a lot of mythology about free markets in mainstream texts books and corporate media, but when the wheels come off the cart in Fiat Currency Hell (and have no doubt about it, the wheels came off the cart with this Yen thing), the […]
GM Closing Pickup Plant for Lack of Japanese Parts
March 18th, 2011Via: USA Today: General Motors plans to halt production Monday of the Chevrolet Colorado and GMC Canyon compact pickups made at Shreveport, La., because some parts come from Japan and aren’t available now. The GM move is the first production halt directly linked to the March 11 earthquake and tsunami that wiped out portions of […]
Natural Gas Futures Surge Most in Eight Months on Storage Drop
March 17th, 2011WARNING: This is not a recommendation to buy, sell, or hold any financial instrument. 😉 Via: Bloomberg: Natural gas futures rose the most in eight months after a government report showed a bigger-than- forecast U.S. stockpiles decline. Gas posted its biggest percentage gain since July 15 after the Energy Department said inventories fell 56 billion […]
Nikkei 225 Midmorning Trade Down 2%
March 17th, 2011Monitoring…
YEN RECORD HIGH; MAJOR TECHNICAL LEVEL TAKEN OUT VS. DOLLAR
March 17th, 2011WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Update: USD/JPY Breaking Down Again US$ could be about to retest the low vs. yen. I’m watching the weak support level at 78.61 USD/JPY. Currently trading around 78.71. It looks like it’s going to break down again. —End Update— 80.43 was […]
White House Wants New Copyright Law Crackdown
March 16th, 2011Via: Cnet: The White House today proposed sweeping revisions to U.S. copyright law, including making “illegal streaming” of audio or video a federal felony and allowing FBI agents to wiretap suspected infringers.
Housing Starts See Biggest Drop Since 1984
March 16th, 2011Via: Reuters: Housing starts posted their biggest decline in 27 years in February while building permits dropped to their lowest level on record, suggesting the beleaguered real estate sector has yet to rebound from its deepest slump in modern history.
